Contact llinc57

Qube Logistics (Qube) today announced that it will increase its shareholding in POTA Holdings Limited (POTA) to approximately 94.5% through the exercise of call and put options with DP World (POSN) Pty
Limited (DP World), the other major shareholder in POTA. The total amount payable in respect of the exercise of the call and the put options will be $106 million which includes the purchase of DP World’s shares and related loans.

POTA is the business that forms Qube’s Landside Logistics division. This business, which operates under the trading name P&O Trans Australia, provides a comprehensive range of logistics solutions on a national basis focussed on the import / export supply chain for containerised cargo.

These services include road and rail transport to and from the port, operation of full and empty container parks, customs and quarantine services, warehousing and distribution, intermodal terminals and international freight forwarding.

Chris Corrigan, Chairman of Qube’s Investment Advisory Committee, said “Qube is very pleased to move to outright control and majority ownership. We believe that there are substantial growth opportunities for this business, particularly relating to increasing use of rail transport for container movements to and from the ports”.

As previously disclosed, the consideration payable to DP World for its shares was determined by applying a formula to calculate the exercise price for the call and put options that was agreed to when Qube made
its initial investment in April 2007. The enterprise valuation for POTA for this formula was based on seven times normalised earnings (EBITDA) for the year ending 31 December 2010.

Sam Kaplan, Managing Director of Kaplan Funds Management, the manager of Qube, said “The price paid by Qube for the additional POTA shareholding represents an attractive multiple of historical earnings
and the acquisition is expected to be earnings accretive for Qube in the first year”.

Following the completion of the transaction, Qube will own around 94.5% of POTA, with management owning approximately 5.5%. The transaction is expected to be completed by the end of April 2011.

Qube will fund the payment to DP World from its existing cash. Following the completion of the transaction, Qube will have cash and equivalents of around $70 million to fund further investments in its existing businesses and for new investments.

This announcement has been prepared and released on behalf of Qube Logistics by Kaplan Funds Management, the manager of Qube Logistics.

Contact bingley hall

So, if I follow this correctly...
Corrigan, who used to be a shareholder in Pacific National, is now a shareholder in a new rail company called Qube and has just bought the port handler currently serviced by PN?
What happened to make Corrigan leave (I think it was Toll, who was the owner of Asciano) in the first place?

Posted: 02 May 2011 18:50

Contact seb2351

So, if I follow this correctly...
Corrigan, who used to be a shareholder in Pacific National, is now a shareholder in a new rail company called Qube and has just bought the port handler currently serviced by PN?
What happened to make Corrigan leave (I think it was Toll, who was the owner of Asciano) in the first place?"seb2351"

Contact bingley hall

So, if I follow this correctly...
Corrigan, who used to be a shareholder in Pacific National, is now a shareholder in a new rail company called Qube and has just bought the port handler currently serviced by PN?
What happened to make Corrigan leave (I think it was Toll, who was the owner of Asciano) in the first place?"seb2351"

Contact seb2351

Qube to acquire DP World’s Shareholding in P&O Trans Australia Qube Logistics (Qube) today announced that it will increase its shareholding in POTA Holdings Limited (POTA) to approximately 94.5% "bingley hall"

The renaming of everything from POTA/P&O to QUBE is well underway now! New stickers and signs going up everywhere now.

Contact LLVR

Annouced today that Qube has acquired the assets of Westgate Ports for $47 million dollars. It includes the vital port facility at Victoria dock and leases at both Lyndhurst and Altona future intermodal terminals. Qube intends to provide rail services between these facilities as well as their own terminal in Somerton.Westgate has requested provision of a broad gauge connection at their Altona terminal as they intend to run shuttle trains between Altona and Lyndhurst (they do not anticipate SG to Lyndhurst anytime soon and neither do I.

Edward

Posted: 07 Mar 2012 19:16

Contact ozfreight

Annouced today that Qube has acquired the assets of Westgate Ports for $47 million dollars. It includes the vital port facility at Victoria dock and leases at both Lyndhurst and Altona future intermodal terminals. Qube intends to provide rail services between these facilities as well as their own terminal in Somerton.Westgate has requested provision of a broad gauge connection at their Altona terminal as they intend to run shuttle trains between Altona and Lyndhurst (they do not anticipate SG to Lyndhurst anytime soon and neither do I.

Edward"ozfreight"

I'm assuming the idea is that trucks from the east drop off/pick up containers at the Lyndhurst terminal, these are then railed to Altona and then forwarded on via BG or SG trains to other destinations?

Posted: 09 Mar 2012 09:34

Contact VRfan

Annouced today that Qube has acquired the assets of Westgate Ports for $47 million dollars. It includes the vital port facility at Victoria dock and leases at both Lyndhurst and Altona future intermodal terminals. Qube intends to provide rail services between these facilities as well as their own terminal in Somerton.Westgate has requested provision of a broad gauge connection at their Altona terminal as they intend to run shuttle trains between Altona and Lyndhurst (they do not anticipate SG to Lyndhurst anytime soon and neither do I.

Edward"ozfreight"

I'm assuming the idea is that trucks from the east drop off/pick up containers at the Lyndhurst terminal, these are then railed to Altona and then forwarded on via BG or SG trains to other destinations?"VRfan"

The Qube Logistics website doesn't specify but I too assume that it's the idea.

Edward

Posted: 09 Mar 2012 21:26

Contact ozfreight

Annouced today that Qube has acquired the assets of Westgate Ports for $47 million dollars. It includes the vital port facility at Victoria dock and leases at both Lyndhurst and Altona future intermodal terminals. Qube intends to provide rail services between these facilities as well as their own terminal in Somerton.Westgate has requested provision of a broad gauge connection at their Altona terminal as they intend to run shuttle trains between Altona and Lyndhurst (they do not anticipate SG to Lyndhurst anytime soon and neither do I.

Edward"ozfreight"

I'm assuming the idea is that trucks from the east drop off/pick up containers at the Lyndhurst terminal, these are then railed to Altona and then forwarded on via BG or SG trains to other destinations?"VRfan"

The Qube Logistics website doesn't specify but I too assume that it's the idea.

Edward"ozfreight"

How long will PN provide hook and pull services to the paper traffic between Maryvale and Victoria Dock since both terminals are now owned by Qube ?

Contact djukinX1016

Annouced today that Qube has acquired the assets of Westgate Ports for $47 million dollars. It includes the vital port facility at Victoria dock and leases at both Lyndhurst and Altona future intermodal terminals. Edward"ozfreight"

they have had a round of redundancies at westgate ports according to a mate who works there.

Contact phower

It appears that Qube have lost the Horsham contract to SCT"speedemon08"

That would be correct indeed !!"phower"

But whats reportedly happening with the motive power is interesting.....

The S is going to Sydney, one of the 80's will stay and Gargamel (aka GML10) will go to Adelaide for works trains then to Goulburn for final fit outs, big possibility it will be coming back to Victoria though...

Contact Raichase

It appears that Qube have lost the Horsham contract to SCT"speedemon08"

That would be correct indeed !!"phower"

But whats reportedly happening with the motive power is interesting.....

The S is going to Sydney, one of the 80's will stay and Gargamel (aka GML10) will go to Adelaide for works trains then to Goulburn for final fit outs, big possibility it will be coming back to Victoria though...

"speedemon08"

From what I have heard SCT (SBR) have the contract as from the 30 th April , but will only be using one NEW loco only , as it has been using ,for the trials of late ,Then 006 will return to Adelaide and be replaced due to it requires a service .. the rest I do not have a clue ...

But does the "S" not belong to CFCLA, if so who is it going to ?? so in fact all that is going to be lost is One loco , so to speak !! but what is the final fit out entail ?? I was of the opinion that has been happening !! but I could be incorrect .and happy to be corrected.

Contact speedemon08

Oh dear, the S is coming back to NSW? No doubt that will make us popular ."Raichase"

S311 was only meant to be on it for 6 weeks originally in the 1st place. I'm sure a few vic based gunzels got it in that time Period originally, me included."speedemon08"

I think you misunderstood me - it was a light-hearted comment directed at the commonly held idea that some Victorian enthusiasts feel that they have the "right" that Victorian locomotives should remain in Victoria

ASX and Media AnnouncementQube expands regional rail capacityQube Logistics Holdings Limited (“Qube”) today announced that it has entered into an agreement to acquire 100% of the shares of Macarthur Intermodal Shipping Terminal Pty Ltd(MIST) which, together with its wholly owned operating subsidiaries, Independent Railways of Australia Pty Ltd and Independent Railroad of Australia Pty Ltd, trades as IndependentTransport Group (ITG).As part of the transaction, Qube will also acquire the freehold property at Minto in New South Wales upon which ITG operates its rail terminal and warehousing. The total consideration payable for the acquisition of MIST and property is approximately $95 million1which will be funded from Qube’s new syndicated debt facility. The acquisition is expected to be earnings per share accretive in its first full year of operation. Qube’s Managing Director Maurice James said, “The transaction is an important element in Qube’s expansion into the provision of logistics solutions for rural commodities”.ITG has existing contractual arrangements for the movement of grains and malt by rail from regional New South Wales to the Macarthur Intermodal Shipping Terminal for export through Port Botany. “Qube believes there is significant potential to build on these relationships to provide competitive, efficient logistics supply chain solutions for major grain companies” Mr James said.The ITG business will be integrated into Qube’s Logistics division in order to maximise cost synergies and deliver the optimal logistics solution for Qube’s customers. The acquisition will expand Qube’s rail fleet to approximately 80 locomotives and 800 wagons.Completion of the acquisition is subject to there being no regulatory intervention. It is presently expected that the transaction will be completed by the end of July 2012.

Contact seb2351

This is all great news - PUBE taking on PN with all those Vintage main line locos. Reliability must come into question! Do stake-holders have any idea?

I still can't understand how the ACCC allows PUBE to Operate their own trains in direct competition to PN and be the sole company directly charged with loading/unloading Containers for PN's interstate trains at Acacia Ridge! If PUBE trains ever start working the SG to ACR, then what then?

Contact cuthbert

This is all great news - PUBE taking on PN with all those Vintage main line locos. Reliability must come into question! Do stake-holders have any idea?

I still can't understand how the ACCC allows PUBE to Operate their own trains in direct competition to PN and be the sole company directly charged with loading/unloading Containers for PN's interstate trains at Acacia Ridge! If PUBE trains ever start working the SG to ACR, then what then?"cuthbert"

You ask if the stakeholders have any idea, yet it is quite clear from the above that you have NFI.